Market News

Midday cash livestock markets

Cattle country was generally quiet on Friday morning following a light trade in most areas on Thursday afternoon. USDA Mandatory reported there was light to moderate demand in the Texas Panhandle with moderate trade and demand in Kansas. Compared to last week, live sales were mostly 3.00 lower, with instances of 4.00 lower at 136.00. Nebraska trading was light on Thursday on light to moderate demand with dressed sales 5.00 lower at 218.00. While trading appears to be done in the South, more business may be completed in the North on Friday.

Boxed beef cutout values were mixed with the choice up 1.40 at 226.44, and select down .86 at 216.45.

Mobridge Livestock Auction, Mobridge South Dakota had receipts of 2895 cattle on Thursday. Compared to two weeks ago, feeder steers traded steady to 4.00 higher. Heifers were 2.00 to 4.00 lower.  There was good demand for many packages and a few loads of cattle suitable for finishing, very good demand for steers and heifers for summer grass, and replacement quality heifers. The quality was mostly plain to average with only a few consignments of attractive quality cattle offered, most in light to moderate flesh. Feeder steers medium and large 1 averaging 630 pounds brought 184.83 per hundredweight. 622 pound heifers traded at 162.78.

The Midwest regional Stockyards at Mexico, Missouri had receipts of 371 sheep on Thursday. Compared to last week, the demand was good, and the supply was moderate to heavy. Feeder lambs weighing 32 to 50 pounds brought 222.00 to 230.50 per hundredweight. There were 142 goats in the sale. Slaughter kids, selection 1-2 weighing 51 pounds brought 252.50 per hundredweight.

The storm that moved through the Midwest last week brought reports of wind, and hail, and even some heavy frost to a morning or two in Missouri. This is concerning many growers as plants had already begun to grow, but most seem to think there wasn’t much damage done, of course the alfalfa crop being the most vulnerable and concerning. Several farmers are now talking about new crop hay prices and considering if they should or shouldn’t contract next year’s feeding needs. The supply of hay is moderate, and demand is light with steady prices. Supreme quality alfalfa ranged from 180.00 to 200.00 per ton. Good quality mixed grass hay at 75.00 to 100.00 a ton.

Barrows and gilts in the Iowa/Minnesota, Eastern and Western direct trade areas are not reported due to confidentiality. Nationally the hog market is up .38 at 61.24 weighted average on a carcass basis. Missouri direct base carcass meat price is steady at 55.00. Only the Peoria market is reporting hogs on a live basis on Friday at steady prices from 36.00 to 38.00.

The pork carcass cutout value is down .29 at 75.26 FOB plant.

Iowa barrows and gilts averaged 282.9 pounds in the week ending March 19, .5 pound lighter than the prior week and 1.3 pounds smaller than 2015.

The Chicago Mercantile Exchange is closed in observance of Good Friday.